Episode Details

Podcast:

How to be one of the few profitable traders?

In this video:
00:29 – Why so many traders lose money
01:30 – Massive losses from traders
01:45 – You need to be realistic
02:35 – Seek education
03:35 – Trading while on holiday
04:45 – Would you like to follow my trading?
05:45 – Anything could happen

Why is it that so many traders lose so much money? And more importantly, what can you do to ensure you’re not one of those people? This is a very, very important subject. So let’s get into this and more right now.

Hey, Forex Traders, Andrew Mitchem, here, from the Forrest Trading Coach with video and podcast number 328.

Why so many traders lose money

And I want to talk about why is it so many people lose money? And that, that has been as a result of an e-mail that I received earlier in the week from a company called Darwinex. I don’t belong to them, but I’m on their mailing list, and they sent me this. And back in 2015, the accounts that they had with them lost 78% of their value. 2016, almost 51%, 2017, 47%, and last year, 2018, 38%. And so far this year, almost 10%.

So, a massive loss in the cumulative accounts of their clients. Now, as they said, the results are getting better, which is good, and are still huge losses, by the way. But like they also said on here is they encourage, or want to encourage other brokers to publish their account losses. Because like they said, the other brokers, or a lot of the other brokers probably had far worse losses than Darwinex themselves do.

Massive losses from traders

But think of that, that first year, 78% loss on accounts cumulative. And even today, still massive losses. So, that’s not good.

You need to be realistic

But you need to be realistic, and I’m here as a real trader to tell you that you need to be realistic. Most people will show you flashy cars and Porsches, and all that type of thing. I don’t do that. I’m here trading from home, telling you as it is. And you need to figure out that if you are serious about wanting to become a Forex Trader, as a full-time trader, or just someone that’s doing it for enjoyment or a passive income, what is it that you can do differently so that all the